Stock market today: Global shares slip, echoing Wall Street's retreat from its rally

Global shares have fallen after Wall Street took a step back from its big rally as markets tried to digest a slew of earnings. Shares are lower in early trading in France, Germany and Britain. U.S. futures also fell. Oil prices rose. Benchmarks finished lower in Tokyo, Sydney, Seoul, Hong Kong and Shanghai. Investor optimism was hurt by Fitch Ratings downgrading the United States government’s credit rating, citing rising debt at the federal, state, and local levels. The rating was cut one notch to AA+ from AAA, the highest possible rating.